Monday, November 26, 2012

Bank Of England - Thanks For The Warning!

Seek the good of other men, but be not in bondage to their faces or fancies; for that is but facility or softness; which taketh an honest mind prisoner.
Sir Francis Bacon, Essays, Essay XIII, Of Goodness, And Goodness Of Nature.

The one good thing about blogging is that you can't run out of paper! The Oracle of Ottawa first heard the news just before lunchtime his time. The Oracle, was to say the least, totally agog. The Oracle of Ottawa did not not have to refer to Wikipedia or any other reference source to know  that Mark Carney would be the first  foreigner in the Bank of England's history. Now, the Oracle of Ottawa had no idea how bad things must be in England, that they had to recruit an obscure colonial from the deepest back woods of Canada, ten times more remote than Duck's Ass, Alberta! But all those rumors of the Bilderberg Group, the Illuminatti and/or the New World Order are and have been surely incorrect? Haven't they?

Mark Carney - Relax! It ain't gonna' happen...

Now the Oracle of Ottawa will not be unhappy in the least to see the back of Mark Carney receding away from the presence of the Oracle of Ottawa and Canada. What ever he is, he is not a Central Banker. Central Bankers are seldom seen and never, never, heard. Yes he is smart and he is pretty. He is the idiot savant of noughts and ciphers. The ethics thing I am afraid to report, is still a work in progress, so to speak. For those that know of such things, Mark Carney climbed very high, very fast, in the employ of Goldman Sachs  the monster predator bank of the world. Why it was once rumored and reported that he was one of the last to make "partner" in the bank just before the Initial Public Offering, when the bank reverted from the old partnership ownership structure, to its present corporate structure. Mark Carney must be worth g'zillions!
Yet when he was appointed as Governor of The Bank of Canada, there was no report that the Oracle of Ottawa could find about how much those shares and options were cashed out for. And the reason that there was no report was that the shares and ownership in said bank are still being retained and in fact the said individual is ipso-facto, still an owner and employee(?) of afore mentioned bank. This to the Oracle of Ottawa was and is and will always be totally unacceptable! And the taxpayers of the United Kingdom certainly, under no circumstances, should accept it either. 

Lord Black - Totally knows the ropes...

This was all bad enough, but a ways in to his term as Bank of Canada Governor, he just decides to accept another job as head of the International Financial Stability Board! The Oracle of Ottawa strongly made many noises that this move was in direct contravention of the Bank of Canada Act! And the other fact that the Oracle of Ottawa's tax dollars are to pay for his central banker, not to have his central banker taking care of all the other central banks (for Goldman Sachs?). The Oracle of Ottawa is more than glad to see the back of this so called "rock star". Mark Carney is certainly no John Maynard Keynes

The greatest tragedy and irony of this situation is the facts. England was the birth place of capitalism and economics as we know it. Adam Smith, David Ricardo, Karl Marx(!), William Stanley Jevons, Alfred Marshall and John Maynard Keynes were all from or life time residents of England! How is that that the birthplace of capitalism and economics can not today have one candidate for the position of the Central Banker of the Bank of England! How bad are things in England really? How poor is the present right wing wacko government, and how bankrupt is it that they cannot find an Englishman to run their own Central Bank, the second oldest one in the world, and the eighth oldest bank in existence today? And the Oracle of Ottawa thought Canada had problems, but nothing in the league of the present British distress apparently.  

Now the Oracle of Ottawa will not just bitch and whine. The Oracle of Ottawa will provide the old home country with a candidate perfect for the seamy greasy world of today. And yes he is a British citizen, and as luck would just so have it, a present member of the House of Lords! Now this suggestion is in the long tradition of putting a fox in charge of the hen house so to speak. There are great examples from the past. Joe Kennedy, and  Timothy Geitner to name but a few. And my candidate knows how it all works, the dirty seamy underside, and has even been abandoned by these nefarious elements of once such good friends. My candidate? Why none other than the The Lord Black of Crossharbour...He is quite free at the present time, someone should ring him.

The Oracle of Ottawa can certainly feel for this gentleman. He has it all figured out and the rest of the United Kingdom should sit back and think it out, and you will at some point come to the same conclusion! Again how can the land that gave birth to capitalism as we know it and the art and science of economics not find a suitable candidate of and in the fair green Isles?

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